All businesses now focus on customer retention. Yet, did you know that this wasn’t even seen as important in the 90s? Today, retention and satisfaction are key benchmarks for success! Yet, at the same time, it seems the focus is shifting again. This focus is on innovation, and a goodis now vital in any business. This is because of two key reasons:
- Technology is always developing, and systems are becoming increasingly smart at linking information worldwide together.
- Metrics have been developed that better show the impact of retention, satisfaction, and engagement.
Crowdsourcing Is Now of Strategic Importance
Innovation has always been part of R&D departments. Today, however, it is integrated across the board. One innovative idea is collecting new ideas, talent, and skills, which can be done through crowdsourcing. Let’s take a few of the key changes seen in the world of business about innovation.
- Technology has changed to enable people to submit ideas regarding how processes can be improved in their company. In fact, external stakeholders can even access these systems and share their ideas, which is perhaps the purest example of crowdsourcing.
- Innovation metrics have enabled organizations actually to determine whether ideas are viable or not. This has enabled far more ideas to actually be implemented, which has increased the excitement of people wanting to take part in it. The right metrics are critical, however, or they may as well be useless.RELATED ARTICLES :
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Looking Towards the Future
The theory ofand how those can be measured. Companies that are now engaging in innovation and crowdsourcing can determine how it is helping their company grow. In so doing, they will also be best equipped to know which resources should be allocated and where to further their own company. Crowdsourcing equals openness, and openness equals the future of customer service.